Rockybru, in his latest posting wrote about the impact of Goods and Services Tax (GST) and congratulate Malaysia on its implementation.. below is what he has to say:
Happy GST, Malaysia! Today, our beloved nation joins more than 160 other countries that have already applied the Goods and Services Tax to their tax structure. Why is it that 80 per cent of the nations in the world have gotten GST? I dunno, maybe it has proven to be a fairer and more effective form of taxation?
If that’s so, why then are those politicians saying GST will be bad for us and the nation, that revenues for GST will be used to pay the government’s mounting debts, etc?
Well, simply because those tax evaders will be able to evade no more. I suspect an unholy alliance between those politicians and some of the major tax evaders in the systematic and holistic attack on the GST these past few months.
In any case, if you choose to trust those politicians, here’s the good news for you: 40-odd countries have yet to implement the GST. In Southeast Asia, there are two left: Brunei and Myanmar. A little further away, there’s North Korea.
A host of African countries are GST-free so you will be spoilt for choice: Angola, Eritrea, Somalia, etc.
So if you truly are convinced that GST is the end of good things and your fine living in Malaysia, check out those non-GST countries h e r e for possible migration in the near future.
p.s. I don’t mind Cuba myself, actually.
For the rest of us, here’s the deal:
UP. Some good things are going to be more expensive from today, no doubt.
Six per cent more expensive. Those who love their drinks at the pubs and hotels, for example, will be needing more of those shots because they will be paying more for everything: beers, single malt, wine, tidbits. Even the mineral water at your neighbourhood pub will cost 6% more. So stop drinking or buy from the 7-Eleven.
Your Iphone will be more expensive. Fags cost 50 sen more = RM14 for a packet of 20.
DOWN. But not everything will go up; in fact, prices of many goods and services will be cheaper. Our national car, Proton, will cost less.
Even CKD Honda and Toyota will be cheaper from today. No increase in fuel prices at the pump for April. Big bikers, rejoice, cause I hear that those mean machines are going to be less mean when it comes to their price tag, thanks to GST!
My Triumph mates are already defiining GST as Gua Suka Triumph or I Love Triumph in anticipation of more savings when one buys a Triple or Tiger!
UNCHANGED. A long list of stuff will remain unchanged with GST, including basic food items and some 4,000 types of medicines/medication.
You can Google for more info. It doesn’t cost more to Google, I think.
Thanks to Big Dog for attaching this clip to his latest posting, Divine.
p.s. Some businesses will take advanage of GST to up their prices when they shouldn’t. These are profiteers and these leeches will try to make more from you any chance they get. They can be fined up to RM200,000 if found guilty, so don’t hesitate to tell on them.
READ ALSO: First Day of GST by Economics Malaysia:
…and the world hasn’t ended. Car prices have even come down, as predicted (so will furniture, and quite a few imported manufactured goods). There will no doubt be teething troubles along the way, but Malaysia’s most significant tax reform in a generation is now established. But confusion abounds. Take this article from yesterday …